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Pfizer raises COVID-19 vaccine sales forecast to US$36 billion for 2021

Pfizer raises COVID-19 vaccine sales forecast to US$36 billion for 2021

FILE PHOTO: A syringe and vial are seen in front of a displayed Pfizer logo in this illustration taken June 24, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Pfizer on Tuesday (Nov 2) raised the full-year sales forecast for its COVID-19 vaccine by 7.5 per cent to US$36 billion, as it signs deals with countries for booster doses and receives clearances for using its shots in broader age groups.

The company said it is also on track to deliver 2.3 billion doses of the vaccine, out of the roughly three billion it plans to make this year.

Driven by an unprecedented vaccination drive against the COVID-19 pandemic globally, Pfizer's shot has quickly become one of the best-selling products in the company's roughly 172-year history. The company equally splits expenses and profit from the vaccine with its German partner BioNTech.

Other rivals such as Moderna and Johnson & Johnson have faced production snags, helping Pfizer extend its lead in signing supply deals with countries.

Pfizer is also rolling out booster doses of the vaccine, while waiting for the outcome of a US regulatory meeting later in the day on using its shots in children aged five to 11.

The vaccine brought in sales of US$13 billion in the third quarter. Analysts had expected US$10.88 billion on average, according to seven analysts polled by Refinitiv.

Pfizer's shares rose over 1 per cent in premarket trading.

Source: Reuters/ng

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